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Ircon International shares were the top gainer among the pack, jumping over 12 percent to trade at Rs 218 apiece, gaining the most in 20 weeks.
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The smallcap index ended in the green on seven out of past eight sessions, with the combined market capitalisation higher by over Rs 50,000 crore since May 23.
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With Ircon International currently trading at Rs 160.43, the stock's recent surge and high trading volumes indicate strong market activity. Investors will be closely monitoring its performance, especially given the fluctuations in quarterly financial results and the overall neutral sentiment.
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Earlier this month, Moneycontrol reported, citing sources, that government is likely to increase railway budget by 15-18% in FY26 to accelerate rollout of Vande Bharat, high-speed bullet trainsets
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RVNL stock has seen a strong resurgence in the past few days after it secured a Rs 3,622 crore contract from BSNL, recovering from the 7-month-low level it had hit on January 13.
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Railway stocks, which had fallen sharply from their record highs in 2024 due to high valuations and broader market correction, rebounded strongly today.
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This comes amid an overall low market sentiment after hitting massive highs in 2024. Amid anticipation of the upcoming Union Budget 2025, let's check how much have the major railway stocks corrected in the past few months.
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Railway stocks such as RVNL, RailTel, IRCON and IRFC jumped on June 21, extending the last one year's stellar gains, as investors hope for a continued government thrust on infrastructure development.
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The upbeat sentiment in railway stocks was buoyed by a sustained focus on infrastructure-led growth along with a focus on 'Make in India'.
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The valuation of stocks in railway, defence and electronic manufacturing have run way ahead of fundamentals?
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While the opportunity remains immense, lower order inflow a key concern in the near term
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The government historically has been missing the disinvestment targets set in budgets with the exception of 2018-19 and 2017-18 financial years
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Recent correction offers a good buying opportunity as capex on railways and highways continues to boost order book
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The largest sell-off was seen in SJVN, where holdings were cut by over 53%, followed by Ircon International and NMDC Steel, with reductions of around 47% and 30% respectively.
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On February 13, the Nifty 50 index had a muted start and was trading at 21,733.85, around 0.55 percent higher than close on February 12. BSE Sensex was trading at 71,523.44, around 0.66 percent higher.
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The provision of Rs 1 lakh crore for R&D is a ground-breaking move
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IRFC, RVNL and other railway companies' stocks continued to surge on January 20, extending their record breaking run. The stocks have gained up to 70% in just January itself.
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The ICC has pronounced an award of Rs 103.62 crore in favor of IRCON, against the claims of Rs 115.98 crore.
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The government is selling about 7.53 crore equity shares, representing 8 per cent of the railway public sector unit (PSU) at a floor price of Rs 154 apiece through a two-day offer for sale (OFS).
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On Thursday, non-retail investors put in bids for over 15.66 crore shares, as against over 3.38 crore shares reserved for them.
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The government currently holds 73.18 per cent in IRCON, an engineering and construction firm.
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Valuations have bumped up, but they may not remain sustainable in the medium term
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Ircon International crosses above the 50-day moving average and MACD is in a buy mode
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IRCON, NHPC, CONCOR and Hindustan Copper Ltd have respectively paid about Rs 148 crore, Rs 294 crore, Rs 67 crore and Rs 24 crore as dividend tranches to GoI, the DIPAM Secretary tweeted.
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As a merged entity, IRCON and RVNL can possess a solid portfolio of services, which can help them bring down cost and build capabilities that can shield them against competition
